Tilray (NASDAQ:TLRY) Shares Gap Down to $2.47

Tilray Inc (NASDAQ:TLRY) gapped down prior to trading on Wednesday . The stock had previously closed at $2.47, but opened at $2.29. Tilray shares last traded at $2.10, with a volume of 23,753,021 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TLRY. Canaccord Genuity Group cut their target price on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Alliance Global Partners upped their price objective on shares of Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, CIBC cut their target price on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th.

Tilray Trading Down 20.0 %

The firm has a fifty day moving average of $1.96 and a two-hundred day moving average of $1.94. The company has a current ratio of 1.92, a quick ratio of 1.18 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.53 billion, a PE ratio of -4.64 and a beta of 2.36.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in TLRY. Marathon Trading Investment Management LLC grew its holdings in Tilray by 24.7% during the 3rd quarter. Marathon Trading Investment Management LLC now owns 29,302 shares of the company’s stock valued at $70,000 after buying an additional 5,802 shares in the last quarter. Signaturefd LLC lifted its stake in Tilray by 3.3% in the 3rd quarter. Signaturefd LLC now owns 202,408 shares of the company’s stock worth $484,000 after purchasing an additional 6,452 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Tilray by 2.7% during the 4th quarter. Vontobel Holding Ltd. now owns 278,199 shares of the company’s stock valued at $640,000 after purchasing an additional 7,362 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Tilray by 179.0% in the fourth quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock worth $34,000 after purchasing an additional 9,453 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Tilray by 14.7% in the third quarter. Victory Capital Management Inc. now owns 76,506 shares of the company’s stock worth $183,000 after buying an additional 9,790 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

About Tilray

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Nanaimo, Canada.